SEC Probing JP Morgan, Bisys Connection

Law360, New York (October 30, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has requested information from investment bank JP Morgan & Chase Co. regarding Bisys Group Inc., the fund administrator that has recently made headlines for allegedly paying kickbacks to mutual fund companies.

The SEC sent a letter to JP Morgan asking for documents relating to the relationship between Bisys and One Group Funds, a Bisys customer acquired by JP Morgan in 2004 as part of the bank’s purchase of Bank One Corp.

JP Morgan said in a statement that the agency...
To view the full article, register now.